Kroger Company (The) (NYSE:KR)‘s stock had its “neutral” rating restated by stock analysts at Goldman Sachs Group, Inc. (The) in a report issued on Monday, September 11th. They currently have a $23.00 price objective on the stock, down from their prior price objective of $26.00. Goldman Sachs Group, Inc. (The)’s price objective would indicate a potential upside of 10.58% from the company’s previous close.
A number of other brokerages also recently issued reports on KR. BMO Capital Markets set a $32.00 price target on Kroger Company (The) and gave the company a “hold” rating in a report on Saturday, June 10th. Bank of America Corporation downgraded Kroger Company (The) from a “buy” rating to a “neutral” rating in a report on Thursday, June 15th. ValuEngine downgraded Kroger Company (The) from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Wells Fargo & Company restated a “buy” rating and set a $28.00 price target (down previously from $35.00) on shares of Kroger Company (The) in a report on Monday, June 12th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $34.00 target price on shares of Kroger Company (The) in a report on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Kroger Company (The) has an average rating of “Hold” and a consensus price target of $28.58.
Shares of Kroger Company (NYSE:KR) traded up 0.79% during midday trading on Monday, hitting $20.38. The company had a trading volume of 4,805,398 shares. The company has a market capitalization of $18.20 billion, a P/E ratio of 12.33 and a beta of 0.79. The firm’s 50 day moving average is $22.65 and its 200 day moving average is $26.28. Kroger Company has a 52 week low of $20.04 and a 52 week high of $36.44.
Kroger Company (The) (NYSE:KR) last announced its quarterly earnings results on Friday, September 8th. The company reported $0.39 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.39. Kroger Company (The) had a return on equity of 28.04% and a net margin of 1.32%. The company had revenue of $27.60 billion for the quarter, compared to the consensus estimate of $27.48 billion. During the same quarter in the previous year, the business earned $0.47 EPS. Kroger Company (The)’s revenue was up 3.9% compared to the same quarter last year. Equities research analysts anticipate that Kroger Company will post $1.97 EPS for the current year.
Kroger Company (The) declared that its board has authorized a stock repurchase plan on Thursday, June 22nd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 4.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
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In other news, insider J Michael Schlotman purchased 2,000 shares of the stock in a transaction dated Monday, June 26th. The shares were purchased at an average cost of $22.73 per share, with a total value of $45,460.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.85% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the company. Dupont Capital Management Corp purchased a new stake in shares of Kroger Company (The) in the 2nd quarter worth $105,000. Advantage Investment Management LLC increased its stake in shares of Kroger Company (The) by 15.8% in the 1st quarter. Advantage Investment Management LLC now owns 3,682 shares of the company’s stock worth $109,000 after purchasing an additional 502 shares in the last quarter. Cedar Wealth Management LLC increased its stake in shares of Kroger Company (The) by 155.9% in the 2nd quarter. Cedar Wealth Management LLC now owns 4,990 shares of the company’s stock worth $116,000 after purchasing an additional 3,040 shares in the last quarter. CWM LLC increased its stake in shares of Kroger Company (The) by 1,162.2% in the 2nd quarter. CWM LLC now owns 5,213 shares of the company’s stock worth $122,000 after purchasing an additional 4,800 shares in the last quarter. Finally, Grove Bank & Trust increased its stake in shares of Kroger Company (The) by 9.3% in the 2nd quarter. Grove Bank & Trust now owns 5,287 shares of the company’s stock worth $124,000 after purchasing an additional 450 shares in the last quarter. Hedge funds and other institutional investors own 75.52% of the company’s stock.
About Kroger Company (The)
The Kroger Co (Kroger) manufactures and processes food for sale in its supermarkets. The Company operates supermarkets, multi-department stores, jewelry stores and convenience stores throughout the United States. As of January 28, 2017, it had operated approximately 4,000 owned or leased supermarkets, convenience stores, fine jewelry stores, distribution warehouses and food production plants through divisions, subsidiaries or affiliates.
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